Dubai Government To Disappear Because Of Blockchain Tech?

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On today’s episode of The Cryptoverse…
You may already be aware of the government of Dubai aiming to become the world’s first blockchain powered government by 2020. They have just launched DubaiPay.
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Dubai is Building a Blockchain-Powered Government

Link provided by YouTube viewer Jean-Paul Isambart:
https://en.wikipedia.org/wiki/Laffer_curve

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14 Comments

  1. Great video as always Chris. Have to clarify one thing though, Dubai has one of the smallest oil reserves in the Gulf. It contributes only 5% of GDP. In fact, historically, this lack of oil and gas is exactly why the Sheikh of Dubai has systematically developed Dubai as a trade and finance hub.

  2. I agree with the sentiment of what you say about taxes if all companies were on the same playing field. The problem is "globalisation". Government doesn't enforce the right taxes (Amazon, Google etc), tax revenues reduce. Companies pay pittence, but as they have the power to move somewhere with lower taxes, they have government by the short and curlies. Capitalism and tax generation is not working how it is supposed to. The only solution is protectionism, but with the digital world taking over, this is not going to work appropriately

  3. The only thing that would worry me is that computers don't have emotion. Not saying that goverments are humain atm but the blockchain is completely computer. Especially if you have a distopian country like China where people get social scores. And if you're score is low then you're like an outcast of the system. Eventually this will create the skynet.

  4. We really should all start expressing Bitcoin amounts in Satoshis. This would also help newbies to realize that they can buy fractions of a bitcoin. For example buying a million Satoshis for only approx. $66,-!

  5. I am not too sure they know what they are doing. I see it as a desperate measure as a lot of companies are moving out of Dubai. They should allow people to use VPN first before implementing Blockchain.

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